Kadiev: The idea of transferring part of the fiscal reserve banks is bad

The idea of transfer of fiscal reserves in private banks is bad and raises many issues, says municipal councilor and candidate of the Socialist Party mayor of Sofia, Georgi Kadiev. It says in his position, circulated to the media on occasion commented by Finance Minister Simeon Diankov possible part of the fiscal reserve at the Bank to be invested in private commercial banks.
According to Kadiev this reserve should be in Bank accounts. Meaning of the fiscal reserve is to demonstrate stability, it is white money for a rainy day and should therefore be kept under the pillow, ie only in risk-free securities or bank accounts, indicating Kadiev, quoted by BTA.
Kadiev considers that the question will arise in which banks will be moved to the fiscal reserves and how these criteria were selected banks. Will have to answer whether the country thus making an implicit type of monetary policy and whether it enters into
contrary to the currency board, he has threatened you, and to what extent Kadiev commented. He puts the question of who can ensure that the increased liquidity of commercial banks will lead to a sharp increase in non-performing or bad loans, and the pressure on the entire banking system.

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Finance

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